Tuesday, September 25, 2012

Watching Employment: Rate Down But Employment Not Up

All-time highs in employment and workforce size for Licking County were within reach according to a deep dive look at labor market data I did last month.

Today's Ohio LMI data release shows those high benchmarks remain elusive. Though Licking County's unemployment dropped to 6.1%, the reasons for celebration are not really there.

There's a dark lining to that silvery cloud. The August 2012 data shows employment stalled while the workforce size shrunk versus July. Not a good sign for the pace of economic recovery.

Traditionally, September is a reset month so watch October 23rd for the next release of LMI data. It could keep celebrations off for awhile longer.

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